Common use of Protection and Insurance of property Clause in Contracts

Protection and Insurance of property. Such property, while in Seller’s care, custody or control, shall be held at Seller’s risk, shall be kept free of encumbrances and insured by Seller at Seller’s expense in an amount equal to the replacement cost thereof with loss payable to Buyer and shall be subject to removal at Buyer’s written request, in which event Seller shall prepare such property for shipment and redeliver to Buyer in the same condition as originally received by Seller, reasonable wear and tear excepted, all at Seller’s expense. All such property shall be clearly marked as Buyer’s property either by mark on any such property or, if a number of goods are held in a consignment storage, by identifying that all goods in that consignment storage are at Buyer’s property.

Protection and Insurance of property. Such property, while in Seller’s care, custody or control, shall be held at Seller’s risk, shall be kept free of encumbrances and insured by Seller at Seller’s expense in an amount equal to the replacement cost thereof with loss payable to Buyer and shall be subject to removal at Buyer’s written request, in which event Seller shall prepare such property for shipment and redeliver to Buyer in the same condition as originally received by Seller, reasonable wear and tear excepted, all at Seller’s expense. All such property shall be clearly marked as Buyer’s property either by mark on any such property or, if a number of goods are held in a consignment storage, by identifying that all goods in that consignment storage are at Buyer’s property.. 4.3